Nesscap Energy Inc. and RUSNANO Announce Global Financing and Agreement to Establish New Ultracapacitors Production
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SEOUL, SOUTH KOREA, Jun 15 (MARKET WIRE) -- Nesscap Energy Inc. (Nesscap) (TSX VENTURE: NCE), a global leader in research, development and manufacturing of ultracapacitor products, and Open Joint Stock Company RUSNANO (RUSNANO) today announced that they have entered into a non-binding term sheet to provide debt and equity financing to Nesscap for its global expansion, including expansion of facilities in Korea and the development of a manufacturing facility and a R&D centre for Nesscap in Russia. Nesscap is a global leader in research, development and manufacturing of ultracapacitor products. It is anticipated that the proceeds of this financing will be used towards expansion and general corporate purposes at Nesscap's current Korean operations and to assist with the development of a manufacturing facility and R&D centre in Russia through a wholly-owned subsidiary of Nesscap. Nesscap will continue to house its core R&D facility and maintain its commercial factories and corporate headquarters in Gyeonggi-Do, Korea. "RUSNANO's investment will enable us to dramatically expand operations in support of volume production for our ultracapacitor products and to continue to advance our technology platform to deliver on our broader long-term vision," said Dr. Sunwook Kim, Chairman and CEO of Nesscap. "We are excited by the opportunity to be supported by RUSNANO. This relationship provides Nesscap with further validation of our technology and the confidence that we are on track for significant growth in sales of ultracapacitors." Nesscap and RUSNANO are currently undertaking mutual due diligence investigations and the preparation of the definitive transaction documents. The completion of this transaction is expected to occur during the third quarter of 2011 and will be subject to, among other conditions, the completion of the financing, due diligence exercise, agreement on the transaction documents and the approval of the final transaction documents by the board of directors of Nesscap and the Executive Board of RUSNANO as well as all required shareholders and regulatory approvals and compliance with the policies of the TSX Venture Exchange. It is currently contemplated that, upon completion of the transaction, the board of directors of Nesscap will be increased to nine directors, seven of which would be the current directors of Nesscap and one nominee of each of RUSNANO and the other investors in the financing. There can be no assurance the transaction contemplated above will be completed, or if completed, what the final terms will be. About Nesscap Since its inception in 1999, Nesscap Energy Inc. has become an award-winning global leader in technology innovation and product development of ultracapacitors. Attributes of the ultracapacitor allow for the technology to be used in applications where power, life cycle requirements or environmental conditions limit the suitability of batteries or capacitors. Uniquely structured, Nesscap products are used to replace or enhance the performance of energy and power needs for modern applications ranging from portable electronic devices to high-tech 'green' cars and are available in both cells and modules. Nesscap features the widest array of standard commercial products in the market from 3 farads to 6,200 farads with industry recognized alternative organic electrolytes. Customers of the Company include transportation, power, and consumer markets. Technical and sales information can be found at www.nesscap.com. Public filings of Nesscap are also available on SEDAR at www.sedar.com. About RUSNANO RUSNANO was established in March 2011 as an open joint-stock company through reorganization of Russian Corporation of Nanotechnologies. RUSNANO's mission is to develop the Russian nanotechnology industry through co-investment in nanotechnology projects with substantial economic potential or social benefit. The Government of the Russian Federation owns 100 percent of the shares in RUSNANO. Anatoly Chubais is CEO and Chairman of the Executive Board of RUSNANO. Work to establish nanotechnology infrastructure and training for nanotechnology specialists, formerly conducted by the Russian Corporation of Nanotechnologies, has been entrusted to the Fund for Infrastructure and Educational Programs, a non-commercial fund also established through reorganization of the Russian Corporation of Nanotechnologies. To learn more about RUSNANO, please visit www.rusnano.com. Forward-Looking Statements Included in this news release are matters that constitute "forward-looking" information within the meaning of Canadian securities law. Such forward-looking statements may be identified by words such as "plans", "proposes", "estimates", "intends", "expects", "believes", "contemplate", "may" or words of a similar nature. There can be no assurance that such statements will prove to be accurate. Actual and future events could differ materially from such statements. Factors that could cause actual results to differ materially include among others, the risk that the transactions described in this release cannot be consummated in the timeframe or on the terms described or on other terms acceptable to the parties, regulatory risks, risk inherent in foreign operations, commodity prices and competition. Most of these factors are wholly or partially outside the control of Nesscap. All subsequent forward-looking statements attributable to Nesscap or its agents are expressly qualified in their entirety by these cautionary comments. Except as otherwise required by applicable securities statutes or regulation, Nesscap expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise. Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) has in any way approved or disapproved of the contents of this press release. Contacts: Nesscap Energy Inc. Debbie Bamforth Corporate Communications 905-599-3322 email@example.com www.nesscap.com Open Joint Stock Company "RUSNANO" 10A prospect 60-letiya Oktyabrya Moscow, 117036, Russia +7 495 988 53 88 +7 495 988 53 99 (FAX) firstname.lastname@example.org www.rusnano.com Copyright 2011, Market Wire, All rights reserved. -0-
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